Archives for July 2017

July 31, 2017

The crude oil prices rose to a two-month high on Monday, supported by the tightening US market conditions and the threat of sanctions against Venezuela. The US light WTI crude rose by 0.52% to 49.97 USD per barrel, while the European benchmark Brent oil adds 0.54% to its price to 52.50 USD per barrel. The

Business activity in Chinese industry slows down slightly in July, according to the official PMI. Its value declined from 51.7 points in July to 51.4 points in July, a little below expectations. According to experts from the National Statistics Service, the decrease is due to unfavorable weather conditions and floods in parts of the country,

July 30, 2017

US economy grows by 2.6% in Q2 2017, accelerating over the first three months when the annual growth rate was 1.4%. However, the pace between April and June is weaker than that promised by President Donald Trump. The authorities have set a long-term target of 4% GDP growth. Expectations for growth in the second quarter

German consumer price inflation remained stable at 1.5% yoy in July, according to the federal statistical office Destatis. The expectations of economists to slow down to 1.4%. This is the harmonized index used by the European institutions for a fair comparison with data from other Member States. On a monthly basis, consumer prices in Germany

The international rating agency Moody’s Investors Service raised the credit rating of Cyprus to the Va3 level. The outlook for the rating remains positive, which signals for further increase in the coming months. Moody’s emphasizes that Cyprus’s economic sustainability is improving, and positive trends will continue in the medium term. The fiscal position of the

July 29, 2017

Eurozone economic confidence rose slightly for a third consecutive month in July, reaching a new 10-year high. The economists forecasts were for decline. The economic confidence indicator in the 19 currency countries rose to 111.2 points in July from 111.1 points in June and 109.2 in May driven by greater optimism in the services sector.

July 28, 2017

Private sector deposits in Greek banks are rising for the second consecutive month, which is seen as a signal for the return of Greek confidence in the system and the prospects for the country as a whole. In May, deposits in Greek banks reached 119.42 billion EUR, the lowest level since May 2003. In June,

Japanese consumer prices rose in June by 0.4% on an annual basis, the same rate as in the previous two months. However, there is no change on a monthly basis. Friday’s index includes prices for energy products, but not those of fresh food. Indicating that the tightening labor market has yet to fuel inflation, core

German consumer confidence marks a 16-year high in August amid higher expectations of income and hopes associated with Europe’s largest economy. GFK’s leading consumer confidence index rose to 10.8 points in August from 10.6 points in July. The survey shows that the Germans have so far disregarded concerns about the Brexit talks, the US President

July 27, 2017

Spain is about to record the biggest economy growth since 2007, again surpassing the market expectations. The consensus in early 2017 was that the economy would lose momentum this year, with the latest reforms gradually diminishing its effect. But now the economy is restoring its recovery, which has allowed the government to raise its forecast